SCB teams up with FamilyMart for bill payments
Siam Commercial Bank (SCB) is expected to take advantage of being the first among its banking peers to tie up a partnership with a leading convenience store chain.
It aims to achieve a 10% market share in bill payments at retail shops over the next three years.
Thailand’s third-largest bank by assets is offering a comprehensive bill-paying system via 900 FamilyMart outlets nationwide.
With strong expansion in bill payments via non-bank channels, SCB expects to improve its growth under the collaboration.
Total bill payments stand at about 5 million per month, with 3 million or 60% executed via retail shop networks.
This portion is expected to continue increasing, said SCB executive vicepresident Trirong Butragaht.
‘‘Retail shops opening around the clock and their extensive networks across the country are a key reason to attract consumers to pay bills via the channel,’’ he said.
Customers’ behaviour on bill payments has changed from paying through banks. As a result, banks must improve services by offering consumers more convenience in line with changing lifestyles.
FamilyMart plans to increase its outlets to 1,000 by the end of the year and to 3,000 by 2017.
Thanachart Bank has cooperated with three partners to launch the first virtual prepaid card in Thailand to provide customers with more convenience when paying for goods and services.
The partners are AIS 3G 2100, MasterCard Worldwide and 2C2P (Thailand).
The innovative service will help AIS customers to buy products online. Clients will receive an SMS to confirm identification prior to payment via a strong security system.
SCB shares yesterday dropped 3 baht to 158.50 on the SET in trade worth 2.44 billion baht.